Will Osbourne rule out a currency union ?

[NickB]

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Chancellor George Osborne will be in Edinburgh today to underline the UK government’s opposition to a currency union between the rest of the UK and an independent Scotland, as MPs prepare to press the government to reject it outright.

I await the speech with interest, but I suspect that it will just be more of the 'almost certainly, nearly definitely' stuff we have heard so many times before.

If, however, Osbourne DOES formally rule out a currency union then that's the last big gun discharged in plenty of time for plan B to swing into action - almost certainly a Scots pound pegged initially to sterling, an option that many supporters of independence will be more comfortable with.

[PentlandPirate II]

You can't call it Plan B

Plan A was the Euro
Plan B was the UK Pound
You're now on Plan C ......or is it D or E?

It's a farce. Always was an expensive wasteful farce.

[Innes Newton]

Sorry, I forgot who I am.

You can't call it Plan B

Plan A was the Euro
Plan B was the UK Pound
You're now on Plan C ......or is it D or E?

It's a farce. Always was an expensive wasteful farce

[NickB]

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Ladbrokes - while not offering last week's odds - still seem to think that sterling would be the currency of an independent Scotland.



There’s no catch. Bets are void if there’s a No vote. But the bookie has still installed Sterling as a hot odds-on favourite to be an independent Scotland’s money in 2017, with a new Scottish currency well out at 3/1 and the Euro a frankly rather stingy 10/1, given that it’s basically impossible.

And you’d think that with every potential 2015 UK Chancellor apparently set to say that a currency union is unequivocally out of the question, Sterling would be the rank outsider. Unless, that is, for some reason Ladbrokes – which like all bookmakers is somewhat reluctant to give away cash – doesn’t believe them.